The dollar recovered a few fractions on Monday (the $ Index was virtually stable at 102.55), confirming the halt to the slide that began at its December 10/11 highs.
It could have gained a little more ground, given its +0.6% rebound against the yen and +0.25% against the pound, but it fell back against the Swiss franc (-0.25%) and the euro.
Counter-intuitively, the euro regained some ground (+0.3% to 1.0930) as the IFO index (the barometer of German business sentiment) disappointed: it unexpectedly fell from 87.2 to 86.4 in December.
The consensus was for an increase to 87.8.
Forex traders are expecting a quiet week, culminating in the US household income and spending figures due on Thursday (which include the Fed’s closely watched ‘PCE’ inflation index).
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